[quote=SK in CV][quote=bearishgurl]
We can’t have it both ways … that is … 40%+?? of CA’s landowners paying 1/10th of 1% of the current market value of their properties due to artificially low assessments which will NEVER catch up to even being close to the market value…[/quote]
Do you know this 40% number is right or are you just guessing at it? I have no idea.[/quote]
I’ve done a few surveys on older blocks in SD Metro, East and South County and found a few of them to have as much as 77% prop-13 protected assessments, including blocks surrounding me. In the City and County of SF (VERY populous) and older counties such as Marin, Los Angeles, San Mateo and (western) Alameda County, the percentage is very, very high, regardless of whether owner occupied or not … as it is in some desired rural counties where landowners tend to hang onto property (i.e. Mendocino). As I posted earlier, a few CA coastal enclaves (incl several districts in the City and County of SF) have “rent control.” The vast majority of the LL’s within them have Prop 13 protected assessments, making “rent control” entirely feasible in these jurisdictions. In addition, there are hundreds of agricultural landowners in the San Joaquin Valley who “inherited” their properties, whose assessments are not only protected by Prop 13, but protected by agricultural (tax) waivers, as well. Some of this land is no longer used for agriculture and thus possibly could be made available for zoning changes to future subdivisions (assuming a buyer market and jobs are there). If this should occur, their land could become much more valuable and they would lose their agricultural (tax) waivers but still keep the prop 13 assessment for the portion(s) they elected not to subdivide.
Even though it appears as if CA is drowning in newer subdivisions (because we all have to use the same roads and public facilities), the more desirable, already built-up areas by the year 2000 greatly outnumber the parcels with newer construction (built since 2000), especially in its coastal counties.
Unless they added permitted square footage or obtained rezoning along the way, current property owners who purchased from the last quarter of 1978 until 1999 ALSO have below-market taxes, ranging from 15% of market value to 65% of market value.
The vast majority of current SD County owners who bought since 2000 have had their assessment adjusted downwards in the last three fiscal years in accordance with Prop 8, but it can be raised back up part way or all the way as the assessor sees fit. I see this happening to a LOT of parcels with the ’13/14 tax bills being mailed out the third and fourth weeks of September.
I was taking an educated guess here that it is close to or over 40% of assessments overall in CA which are artificially very low in accordance with Prop 13.
In your spare time, why don’t you order up some plat maps at $2 pg in your old stomping ground (Del Cerro/Allied Gardens?) and take a look for yourself, SK? As you know, the first three numbers of a parcel number is the number of the map to order. Some maps have two pages. These links will get you started:
